After watching the following video:http://www.cnbc.com/2015/06/09/new-balance-the-us-company-shaking-up-the-sneakernomics.html 1. Describe New Balanceâ€™s globalization strategy. What are the costs/risks associated with this strategy?2. How do the globalization strategies of rival companies like Nike and Adidas differ from that of NewBalance? Is New Balance at a disadvantage because it owns and operates some factories?Create a two paragraph summary of the discussion.Make Reference at least one outside article in your summary and ensure that you properlycite your sources.